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£252m to create 1000 new homes in London
Dean White - June 17, 2015

Three multi-million pound deals will provide over 1,000 new homes specifically for private rent in London, Housing Minister Brandon Lewis announced at the London Real Estate Forum.

The homes will be built in some of the capital’s most sought-after locations – including the newest neighbourhood in Stratford’s Olympic Village site.

Mr Lewis said the completion of these three deals will provide good quality rented homes for tenants “well into the future”.

The £1bn Build to Rent fund is designed to help developers produce large scale, quality homes, specifically for the private rented sector.

The latest agreements will mean £252m is invested in building 1,353 homes across key sites in London. These include 903 homes for rent at Stratford’s Olympic Village; 278 homes for rent at Newington Butts in Southwark; and 172 homes for rent across sites in Hammersmith, Westminster and West Kensington.

Work on the homes will start straight away, and be completed in 2017 and 2018.

Each site will include a mix of one, two and three-bedroom properties, all located closely to underground stations.

Speaking at the London Real Estate Forum, Housing Minister Brandon Lewis said:

“As a global city, with excellent opportunities and links to the rest of the world, there is clear demand to provide people with the flexible option of renting in London.

“These three deals will deliver 1,353 new homes specifically for private rent in some of the capital’s most sought-after locations, meeting the needs of tenants well into the future.

“These three deals are the latest to receive Build to Rent funding, delivering a total 4,200 new homes worth a combined £464m since 2013, and offering greater choice for Londoners.”